KKR & Co Inc (KKR) Lowered to Neutral at Credit Suisse Group

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Credit Suisse Group lowered shares of KKR & Co Inc (NYSE:KKR) from an outperform rating to a neutral rating in a research note released on Tuesday morning, 24/7 WallStreet reports. The firm currently has $29.00 target price on the asset manager’s stock.

Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of KKR & Co Inc from a hold rating to a buy rating and set a $27.00 target price on the stock in a report on Thursday, March 21st. Sanford C. Bernstein cut shares of KKR & Co Inc from a market perform rating to an underperform rating in a report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of Hold and an average price target of $29.78.

NYSE:KKR opened at $24.04 on Tuesday. KKR & Co Inc has a 52 week low of $18.30 and a 52 week high of $28.73. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $13.54 billion, a PE ratio of 12.46, a PEG ratio of 7.19 and a beta of 1.66.

KKR & Co Inc (NYSE:KKR) last issued its earnings results on Tuesday, April 30th. The asset manager reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.01. KKR & Co Inc had a net margin of 48.08% and a return on equity of 6.29%. The company had revenue of $397.26 million for the quarter, compared to analysts’ expectations of $370.51 million. During the same quarter last year, the company posted $0.29 earnings per share. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, equities analysts predict that KKR & Co Inc will post 1.69 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Monday, May 13th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Friday, May 10th. KKR & Co Inc’s dividend payout ratio is currently 25.91%.

In related news, General Counsel David Sorkin sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $24.15, for a total value of $2,415,000.00. Following the sale, the general counsel now owns 107,072 shares in the company, valued at $2,585,788.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 39.34% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. raised its position in KKR & Co Inc by 29.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,212 shares of the asset manager’s stock worth $52,000 after acquiring an additional 497 shares during the period. ETF Managers Group LLC raised its position in KKR & Co Inc by 9.4% in the first quarter. ETF Managers Group LLC now owns 7,144 shares of the asset manager’s stock worth $168,000 after acquiring an additional 612 shares during the period. Focused Wealth Management Inc raised its position in KKR & Co Inc by 1.0% in the fourth quarter. Focused Wealth Management Inc now owns 63,083 shares of the asset manager’s stock worth $1,238,000 after acquiring an additional 645 shares during the period. Rothschild Investment Corp IL raised its position in KKR & Co Inc by 1.4% in the fourth quarter. Rothschild Investment Corp IL now owns 50,365 shares of the asset manager’s stock worth $989,000 after acquiring an additional 672 shares during the period. Finally, Keybank National Association OH raised its position in KKR & Co Inc by 2.8% in the fourth quarter. Keybank National Association OH now owns 25,041 shares of the asset manager’s stock worth $492,000 after acquiring an additional 677 shares during the period. Institutional investors and hedge funds own 75.72% of the company’s stock.

KKR & Co Inc Company Profile

KKR & Co L.P. is a private equity and real estate investment firm specializing in direct and fund of fund investments. It specializes in acquisitions, leveraged buyouts, management buyouts, credit special situations, growth equity, mature, mezzanine, distressed, turnaround, lower middle market and middle market investments.

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Analyst Recommendations for KKR & Co Inc (NYSE:KKR)

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